DENA: what changed
DENA
Largest movements
- Stocks and contracts +€519,755
up €519,755 (+1,137%), from €45,696 to €565,451
- Current investments -€347,685
down €347,685 (-99.3%), from €350,000 to €2,315
- Cash -€69,058
no longer reported in 2025 (was €69,058)
mainly Stocks and contracts (-€519,755) and Tax, wage and social debts (-€34,922)
- Tangible fixed assets -€7,950
down €7,950 (-57.9%), from €13,729 to €5,779
- Other debts +€115,197
up €115,197 (+778%), from €14,803 to €130,000
- Tax, wage and social debts -€34,922
down €34,922 (-57.0%), from €61,288 to €26,366
of which Taxes: -€59,779
- Reserves +€14,000
up €14,000 (+5.6%), from €248,420 to €262,420
- Gross operating margin -€28,091
down €28,091 (-54.0%), from €52,038 to €23,947
- Financial charges -€11,929
down €11,929 (-99.7%), from €11,971 to €42
- Financial income +€5,368
up €5,368 (+787%), from €682 to €6,050
- Taxes -€3,367
down €3,367 (-32.6%), from €10,344 to €6,977
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €483,137 | €574,532 | +€91,395 | +18.9% |
| Fixed assets | 21/28 | €13,729 | €5,779 | -€7,950 | -57.9% |
| Tangible fixed assets | 22/27 | €13,729 | €5,779 | -€7,950 | -57.9% |
| Furniture and vehicles | 24 | €13,729 | €5,779 | -€7,950 | -57.9% |
| Current assets | 29/58 | €469,408 | €568,753 | +€99,344 | +21.2% |
| Stocks and contracts in progress | 3 | €45,696 | €565,451 | +€519,755 | +1,137% |
| Stocks | 30/36 | €45,696 | €565,451 | +€519,755 | +1,137% |
| Amounts receivable within one year | 40/41 | €2,714 | €987 | -€1,727 | -63.6% |
| Other amounts receivable | 41 | €2,714 | €987 | -€1,727 | -63.6% |
| Current investments | 50/53 | €350,000 | €2,315 | -€347,685 | -99.3% |
| Cash at bank and in hand | 54/58 | €69,058 | - | -€69,058 | |
| Deferred charges and accrued income | 490/1 | €1,941 | - | -€1,941 | |
| Total equity and liabilities | 10/49 | €483,137 | €574,532 | +€91,395 | +18.9% |
| Equity | 10/15 | €371,561 | €386,002 | +€14,441 | +3.9% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €248,420 | €262,420 | +€14,000 | +5.6% |
| Distributable reserves | 133 | €248,420 | €262,420 | +€14,000 | +5.6% |
| Profit (loss) carried forward | 14 | €13,141 | €13,582 | +€441 | +3.4% |
| Amounts payable | 17/49 | €111,577 | €188,530 | +€76,953 | +69.0% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €79,860 | €161,762 | +€81,902 | +103% |
| Trade debts | 44 | €3,768 | €5,396 | +€1,627 | +43.2% |
| Suppliers | 440/4 | €3,768 | €5,396 | +€1,627 | +43.2% |
| Taxes, remuneration and social security | 45 | €61,288 | €26,366 | -€34,922 | -57.0% |
| Taxes | 450/3 | €61,288 | €1,509 | -€59,779 | -97.5% |
| Remuneration and social security | 454/9 | - | €24,857 | +€24,857 | |
| Other amounts payable | 47/48 | €14,803 | €130,000 | +€115,197 | +778% |
| Accrued charges and deferred income | 492/3 | €11,717 | €6,768 | -€4,949 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,950 | €7,950 | = | 0.0% |
| Other operating charges | 640/8 | €895 | €587 | -€307 | -34.3% |
| Gross operating margin | 9900 | €52,038 | €23,947 | -€28,091 | -54.0% |
| Operating profit (loss) | 9901 | €43,194 | €15,410 | -€27,783 | -64.3% |
| Financial income | 75/76B | €682 | €6,050 | +€5,368 | +787% |
| Recurring financial income | 75 | €682 | €6,050 | +€5,368 | +787% |
| Financial charges | 65/66B | €11,971 | €42 | -€11,929 | -99.7% |
| Recurring financial charges | 65 | €11,971 | €42 | -€11,929 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | €31,905 | €21,419 | -€10,486 | -32.9% |
| Income taxes | 67/77 | €10,344 | €6,977 | -€3,367 | -32.6% |
| Profit (loss) for the period | 9904 | €21,560 | €14,441 | -€7,119 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,560 | €14,441 | -€7,119 | -33.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.